The chart of accounts for Samuels Trucking Company is as follows: Assets Revenue 111 Cash 411 Income
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Question:
The chart of accounts for Samuel’s Trucking Company is as follows:
Assets | Revenue | ||
111 | Cash | 411 | Income from Services |
113 | Accounts Receivable | ||
114 | Supplies | ||
115 | Prepaid Insurance | Expenses | |
120 | Truck | 511 | Wages Expense |
125 | Office Equipment | 512 | Truck Operating Expense |
513 | Rent Expense | ||
Liabilities | 514 | Utilities Expense | |
221 | Accounts Payable | 515 | Advertising Expense |
Owner's Equity | |||
311 | T. Samuel, Capital | ||
312 | T. Samuel, Drawing |
Samuel’s trucking Company completed the following transactions in October:
Oct. 1 | T. Samuel invested in the business personal office equipment having a fair market value of $1,250. |
5 | Paid rent for the month of October, $1,575. |
8 | Bought supplies on account from Office Supplies Inc., $330. |
10 | Received $525 for services preformed. |
15 | Bill customer for services performed, $715. |
20 | T. Samuel withdrew cash for personal use, $500. |
Instructions:
Journalize the transactions for October using quality format in the journal and post to appropriate ledger accounts.
date | description | post ref | debit | credit |
Related Book For
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
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